More than expected! US economy added 467.000 jobs in January
Despite a new wave of COVID-19 infections caused by the Omicron variant, the US economy added 467.000 jobs in January, according to official figures released this Friday, much better than expected.
The Labor Department report, which also showed the jobless rate rising slightly to 4% in January, came as a positive surprise for the world's largest economy as many analysts expected labor hiring to be weak or negative. in the first month of 2022, CNN reported.
Restaurants and bars added more than 100.000 jobs. Jobs in logistics and business services also increased.
Still, the Omicron variant of the coronavirus made its mark on American workers last month. The number of people working remotely because of the virus rose to 15,4%. Likewise, the number of people unemployed for less than five weeks grew.
The sharp increase in hiring, which was unexpected, demonstrates the eagerness of many employers to hire, even as the pandemic maintains its grip on the economy. Companies seem to have viewed the Omicron wave as having a temporary impact on the economy at best and remain confident of long-term growth.
The number of jobless adults barely changed, standing at 6,5 million through January. The United States still needs to create some 2,9 million jobs before returning to its pre-crisis count. Even when those payrolls recover, total jobs will only be at February 2020 levels. It will likely take several more months to recover the job growth lost during the pandemic.
The Bureau of Labor Statistics, in addition, revised the data for December and considerably increased the estimate of job creation: 510.000 new jobs in the last month of the year compared to the 199.000 that it had previously said.
Author: MiamiDiario JM 2:19 pm